Project governance is the framework for how you execute projects and oversee their success.
Why is it so important? Well, it is seen as the root cause for most project success or failure. When people think that they have a scheduling problem, or a resource management problem, or a procurement problem, or a budgeting problem, it can usually be traced back to not having the proper procedures and controls in place to manage that process, which is in essence, project governance.
Why is it so hard to enforce? Most governance frameworks out there are just too complex for most companies to adopt and adhere to. Secondly, governance that is not systemized will be ignored.
ADEACA’s formula for Project Governance
In the infographic below, we make the case that project governance consists of 2 components: Processes & Data. To simplify project governance and ensure its adherence, you have to 1) Standardize, 2) Integrate, and 3) Systemize your processes and data.